Kirby Co. (NYSE:KEX) Shares Sold by 12th Street Asset Management Company LLC

12th Street Asset Management Company LLC cut its holdings in shares of Kirby Co. (NYSE:KEX) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 318,503 shares of the shipping company’s stock after selling 827 shares during the period. Kirby accounts for approximately 5.6% of 12th Street Asset Management Company LLC’s investment portfolio, making the stock its 4th biggest holding. 12th Street Asset Management Company LLC owned about 0.55% of Kirby worth $33,698,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KEX. Artemis Investment Management LLP grew its position in Kirby by 112.0% during the 4th quarter. Artemis Investment Management LLP now owns 382,835 shares of the shipping company’s stock worth $40,504,000 after purchasing an additional 202,272 shares during the last quarter. Victory Capital Management Inc. grew its position in Kirby by 68.7% during the 3rd quarter. Victory Capital Management Inc. now owns 477,233 shares of the shipping company’s stock worth $58,428,000 after purchasing an additional 194,410 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Kirby during the 4th quarter worth approximately $18,749,000. DAVENPORT & Co LLC purchased a new stake in Kirby during the 4th quarter worth approximately $16,390,000. Finally, Charles Schwab Investment Management Inc. grew its position in Kirby by 27.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company’s stock worth $85,585,000 after purchasing an additional 152,146 shares during the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Insider Activity

In related news, VP Scott P. Miller sold 1,244 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $107.61, for a total transaction of $133,866.84. Following the completion of the sale, the vice president now directly owns 5,545 shares in the company, valued at approximately $596,697.45. This trade represents a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. StockNews.com downgraded shares of Kirby from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Stifel Nicolaus lowered their price target on shares of Kirby from $136.00 to $135.00 and set a “buy” rating on the stock in a report on Friday, January 31st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Kirby presently has an average rating of “Moderate Buy” and a consensus target price of $129.25.

Kirby Stock Performance

KEX opened at $96.24 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. The company has a market cap of $5.50 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 0.88 and a beta of 1.18. Kirby Co. has a 52-week low of $87.57 and a 52-week high of $132.21. The firm’s fifty day simple moving average is $105.30 and its two-hundred day simple moving average is $114.83.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Thursday, January 30th. The shipping company reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). Kirby had a net margin of 8.78% and a return on equity of 9.71%. Equities analysts anticipate that Kirby Co. will post 6.57 earnings per share for the current fiscal year.

About Kirby

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.